Universal Instruments to Cut Staff

Updated Oct. 3, 2002 9:31 a.m. ET

Universal Instruments Corp. said it will lay off a "substantial number" of its 1,200 workers later this month. The electronics equipment manufacturer announced said that the job cuts will take place in three weeks. The closely held company (www.uic.com) wouldn't say exactly how many jobs would be impacted. About 800 of the company's workers are in the Binghamton, N.Y., area. Universal last year laid off more than 600 employees, most of them at its five Binghamton-area facilities. Those reductions were the result of a dramatic downturn in sales after the company posted a record amount of business in 2000....